NHT to Introduce New Financing Model
By: , February 14, 2023
Photo: Donald De La Haye
Governor-General, His Excellency the Most Hon. Sir Patrick Allen, made the disclosure as he delivered the Throne Speech to open the 2023/24 Parliamentary Year at Gordon House on Tuesday (February 14). It was delivered under the theme ‘A Stronger Jamaica: Consolidating our Recovery, Reigniting Our Decade of Growth’.The Full Story
The National Housing Trust (NHT) will introduce a new financing model during the 2023/2024 Financial Year, which will entail partner arrangements with regulated mortgage-lending institutions.
This framework is intended to significantly increase the supply of mortgages while at the same time release funds to focus on the development of affordable housing.
Governor-General, His Excellency the Most Hon. Sir Patrick Allen, made the disclosure as he delivered the Throne Speech to open the 2023/24 Parliamentary Year at Gordon House on Tuesday (February 14).
It was delivered under the theme ‘A Stronger Jamaica: Consolidating our Recovery, Reigniting Our Decade of Growth’.
The Governor-General said that providing shelter for Jamaicans is key to inclusive growth, and steady progress is being made towards Government’s stated target of 70,000 new housing solutions by the end of 2025/2026.
He said that the Greater Bernard Lodge Development, which will provide 15,000 housing solutions, has seen strong interest from developers, noting that the buildout continues.
Outlining other imperatives under the Office of the Prime Minister, the Governor General said that the Government is now in the pilot phase of the full rollout of the National Identification System (NIDS) and is on track to operationalise the National Identification and Registration Authority (NIRA).
The Governor-General said that in building a stronger Jamaica, it is imperative that human capital is not a constraint to growth.
“The HEART/NSTA Trust will continue to focus on expanding access to demand-driven training, certification and job placement by strengthening industry partnerships and increased technical and vocational education, training and integration,” he noted.
Meanwhile, among the legislative priorities for the Office of the Prime Minister in 2023/2024 are the Registration (Births and Deaths) (Amendment) Act, the Access to Information (Amendment) Act (2002), and the National Archives and Records Management Bill.